Overview To process mortgage and equity loan payments and payoffs. Respond to a large variety of member inquiries regarding mortgage and equity loan servicing via phone or online communication and ensure General Accounting remits funds to investors. Research and clear funds held in suspense. Perform daily balancing for automatic drafting and escrow suppression. Process Home Equity transactions, and reverse payments and/or fees as needed. Perform moderately complex/varied tasks.Responsibilities
Process manual loan payments to include remitting funds, escrow payments and deposits, as well as HELOC advances
Review, verify and balance cash receipts, debit and credit activity via automated systems
Balance daily manual cash batches and prepare wire transfers
Post manual payments, loan advances, adjustments and escrow transactions for mortgage and equity loans using Mortgage Servicing automated system
Reconcile ACH debit authorizations and journal vouchers to ensure general ledger is updated, maintain registers and cancelled checks logs
Track recurring issues/problems and communicates findings to management and review manually/system generated checks for accuracy
Enter mortgage/equity payoffs into the system and balance payoff transactions
Research un-posted loan payments using automated systems
Receive/research returned checks from General Accounting to determine correct amount applied to mortgage, and reverse funds
Prepare charge-off memoranda, itemized audit trails of errors, and discrepancy summaries with corrective action(s) taken for review by management
Resolve discrepancies in general ledger accounts
Receive and process funds received via check, wire, etc. to pay off mortgages from origination, attorneys, title companies and members
Reverse loan payments, reapply corrected payments, adjust interest, etc., on mortgage and equity loans
Determine payment check negotiability and return non-negotiable items to members
Formulate detailed explanations to member correspondence questions
Research/initiate reversals from members' accounts for returned drafted payments due to insufficient funds or incorrect information, advise the member of the overdrawn account
Correct misapplied payments and process reversals to members' share and share checking accounts
Perform other related duties as assigned
Qualifications
Working knowledge of mortgage lending concepts and principles
Working knowledge of mortgage lending requirements, regulations and procedures for VA and conventional loan programs
Working knowledge of mortgage & equity payment/payoff functions and related servicing regulations
Working knowledge of mortgage servicing policies and practices
Working knowledge of Navy Federal financial and credit transaction documentation processes
Ability to work independently and in a team environment
Effective verbal and written communication skills
Effective research, analytical, and problem solving skills
Effective skill performing mathematical calculations and working accurately with numbers
Effective skill interpreting and applying oral and written instructions
Effective word processing and spreadsheet software skills
Effective skill exercising initiative and using good judgment to make sound decisions
Effective organizational, planning and time management skills
Basic skill maintaining accuracy with attention to detail and meeting deadlines
Effective skill examining and interpreting information quickly and accurately
Desired Qualification(s)
Familiarity with Navy Federal mortgage products, services, programs, policies and procedures
Working knowledge of Navy Federal mortgage servicing system-of-record JDS0245
Associate's Degree or equivalent training, education or experience
Hours: Monday - Friday, 10:00AM - 6:30PMLocation: 5510 Heritage Oaks Drive, Pensacola, FL 32526About Us Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks. Best Companies for Latinos to Work for 2024 Computerworld® Best Places to Work in IT Forbes® 2024 America's Best Large Employers Forbes® 2023 The Best Employers for New Grads Fortune Best Workplaces for Millennials™ 2023 Fortune Best Workplaces for Women ™ 2023 Fortune 100 Best Companies to Work For® 2024 Military Times 2023 Best for Vets Employers Newsweek Most Loved Workplaces Ripplematch Campus Forward Award - Excellence in Early Career Hiring Yello and WayUp Top 100 Internship ProgramsFrom Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/DisabilityHybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market positionBank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.REQNUMBER: 21677